Spirit Airlines’ (NYSE: SAVE) CEO Ted Christie stated on the low-cost airlines‘ Q4 earnings call that he expects to hear from the U.S. Department of Justice regarding the acquisition of SAVE by JetBlue (JBLU) over the next 30 days.
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Christie added that the company is waiting “to see whether the DOJ filed suit to block the deal or allows us to proceed.” Spirit had stated back in December that it had complied substantially with the DOJ’s second request.
JBLU has agreed to acquire SAVE for $3.8 billion last year.
In Q4, SAVE reported revenues of $1.4 billion, a jump of 43.5% versus Q4 of 2019. Adjusted earnings came in at $0.12 per share versus a loss of $0.64 in the same period last year and better than analysts’ expectations of $0.03.
SAVE stock has tanked by 22.4% in the past year.